Plastic Omnium announces proposed acquisition of ACTIA Power, equity stake in Verkor

Automotive energy storage solutions provider Plastic Omnium (Île-de-France, France) has announced a proposed acquisition of electrification company ACTIA Power, and purchase of an equity stake in battery manufacturer Verkor (Grenoble, France). Both moves are part of the company’s strategy to build a comprehensive range of energy management solutions and to meet all needs of electric vehicles.

Specifically, Plastic Omnium says it has entered into exclusive negotiations with ACTIA Group to acquire its ACTIA Power division, specialized in the design and manufacture of on-board batteries, power electronics and electrification systems for electric mobility: trucks, buses and coaches, trains and construction equipment.

ACTIA Power currently employs more than 200 people in France, Germany, the United Kingdom and the United States. ACTIVIA reported 2021 revenue of €22 million. By acquiring ACTIA Power, Plastic Omnium aims to build a complete range of energy management solutions for all types of engines. By joining Plastic Omnium, ACTIA Power would gain technological and commercial benefits through its engagement with the Clean Energy Systems and New Energies divisions.

The negotiation process with ACTIA Group is expected to conclude with a definitive agreement by the end of Q2 2022. This will remain subject to approval by the competent authorities.

In addition, Plastic Omnium is joining the French battery industry through its investment in Verkor, with an initial investment of €20 million. In addition to this investment, an industrial partnership agreement will allow Verkor and Plastic Omnium to rapidly develop production capabilities for electric batteries for individual and commercial vehicles as well as stationary energy storage. Plastic Omnium will also have privileged access to an initial cell capacity of 4 GWh per year from 2025.

The company says that two major investments in France are already underway: a 16 GWh Gigafactory in Dunkirk (Nord) which will be operational from 2024, and an R&D center that will be equipped with a 50 to 150 MWh pilot production line and will be operational in Grenoble from Q1 2023.

Benoît Lemaignan, CEO of Verkor, says, “This industrial collaboration places Verkor at the center of the electric mobility market and allows us to develop in the utility vehicle and stationary storage markets. Verkor is proud to work with Plastic Omnium, a major innovative player in mobility and industry, with a long-term strategy for the future.”

Laurent Favre, CEO of Plastic Omnium, adds, “Plastic Omnium is accelerating its commitment to electric mobility by combining a unique component design expertise with a comprehensive range of storage solutions and energy management systems for the entire mobility industry including cars, rail, commercial fleets, trucks and buses.”

Christian Kopp, president and CEO of the Clean Energy Systems Division of Plastic Omnium, says, “Following the development of 48V battery packs with the Tiamat start-up, this two-pronged project is setting up strategic milestones that will make the Group a leading battery producer and a unique partner for mobility companies in terms of energy management systems adapted to all types of motorization.”